iStock.com/PhonlamaiPhotoCompanies’ speed of artificial intelligence (AI) adoption, regardless of industry, remains one of the main risks associated with the technology, says Sam Chapman, CFC’s Canada technology team leader. At the same time, only 32% of businesses are confident their current insurance policies address AI risks adequately. “I think that’s kind of to be expected when we’re seeing the adoption of this kind of technology so rapidly…for relatively little amounts,” Chapman says. The problem is traditional risk management frameworks, with lengthy procedures and strict oversight, can clash with the speed at which AI is evolving. Besides speed of adoption, another important consideration for the industry is privacy.